ION receives continued listing standards notice from the New York Stock Exchange
Ion Geophysical Corporation (IO)
Last ion geophysical corporation earnings: 2/5 04:53 pm
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US:NYSE Investor Relations:
investorrelations.i-o.com
Company Research
Source: PR Newswire
HOUSTON, April 1, 2020 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced that written notice was received from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with the continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual. ION is considered below criteria established by the NYSE for continued listing because its average market capitalization has been less than $50 million over a consecutive 30 trading-day period, and at the same time its last reported stockholders' equity was below $50 million. The Company's market capitalization was above $50 million prior to the precipitous stock market decline that was triggered by the COVID-19 pandemic.The Company intends to submit a plan that demonstrates its ability to bring the Company into conformity with the continued listing standards within 18 months. During the 18-month period, the Company's shares will continue to be listed and traded on the NYSE,
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